Do You Know Your APR?
The APR (Annual Percentage Rate) on your credit card is what determines how much interest you will pay for any balances you carry over each month.
If you tend to carry a balance on your credit card each month, you will want to consider getting a credit card with a lower APR and save money on how much interest you pay.
Should You Transfer Your Balance?
Sometimes you can lower the amount of interest you pay for carrying a balance on your credit cards by simply transferring the balance to another card.
While there are a number of credit cards that offer a 0% APR for a period of time, you need to understand how long that rate will last and what the new rate will be in the future.
You should take care to ensure you don't move to a new card with an initial lower APR only to pay a higher interest rate after the initial period has ended.
Know Your Credit Score
When you are searching for the right credit card, it is important to understand what your current credit score is and how you can manage it.
Your credit score can impact the types of credit card offers (and interest rates) you qualify for when you apply. Many times, you can take simple steps to improve your credit score and qualify for a better interest rate or credit amount.